2003-013- Authorizing The Town Manager To Execute An Amendment To Agreement With American Baptist Homes Of The West Inc. For Below Market Price Housing At The Terraces Of Los GatosRESOLUTION 2003 - 013
RESOLUTION OF THE TOWN OF LOS GATOS
AUTHORIZING THE TOWN MANAGER TO EXECUTE AN AMENDMENT TO
AGREEMENT WITH AMERICAN BAPTIST HOMES OF THE WEST, INC.
FOR BELOW 1VIARKET PRICE HOUSING AT THE TERRACES OF LOS GATOS
WHEREAS, the Terraces of Los Gatos is a Licensed Residential Care Facility for
the Elderly and a Continuing Care Retirement Community regulated by the 'State of California,
located at S00 Blossom Hill Road in Los Gatos, and owned and operated by American Baptist
Homes of the West, Inc., {ABHOW); and,
WHEREAS, Town and ABHOW executed the "Agreement Between American
Baptist Homes of the West, Inc., and the Town of Los Gatos Relating to Below Market Price
Housing at the Terraces," dated April 12, 1993; .and,
WHEREAS, this Agreement extends a Below Market Price discount to the monthly
service fees of residents of the Terraces's Residential Living apartments only; and,
WHEREAS, TOWN and CONTRACTOR wish to amend this Agreement in order
to .extend Below Market Price considerations to residents of the Terraces' Assisted Living, and
to .allow for choice on the part of residents regarding the timing of such considerations.
RESOLVED,. by the Town Council of the Town of Los Gatos, County of Santa
Clara, State of California, that the Town of Los Gatos enter into an amendment to the agreement
with American Baptist Homes of the West, Inc. for Below 1VIarket Price Housing at the Terraces,
and that the Town Manager is .authorized, and is hereby .directed, to execute said .agreement in the
name and on behalf of the Town of Los Gatos.
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town
of Los Gatos, California, held on the 3`~ day of February, 2003 by the following vote:
COUNCIL MEMBERS:
AYES: Steve Glickman, Diane McNutt, Joe Pirzynski, Mike Wasserman,
Mayor Sandy Decker.
NAYS.: None
ABSENT: None
ABSTAIN: None
SIGNED:
AYOR F THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
CLERK OF Tf~IE TOWN OP OS GATOS
LOS GATOS, ~~~-'sLIFORN'IA